Effective date for the Interim Final Rule: October 14, 2014. Comments on the Interim Final Rule are due: September 15, 2014.

31 CFR Part 34

Summary

The Department of the Treasury is issuing regulations concerning the investment and use of amounts deposited in the Gulf Coast Restoration Trust Fund, which was established in the Treasury of the United States by the Resources and Ecosystem Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012 (RESTORE Act).

2014-07-24; vol. 79 # 142 - Thursday, July 24, 2014

79 FR 42974 - Federal Government Participation in the Automated Clearing House

Effective August 25, 2014. The incorporation by reference of certain publications listed in the rule is approved by the Director of the Federal Register as of August 25, 2014.

31 CFR Part 210

Summary

The Department of the Treasury, Bureau of the Fiscal Service (Service) is issuing this final rule to amend our regulation governing the use of the Automated Clearing House (ACH) network by Federal agencies. Our regulation adopts, with some exceptions, the NACHA Operating Rules developed by NACHA—The Electronic Payments Association (NACHA) as the rules governing the use of the ACH Network by Federal agencies. We are issuing this rule to address changes that NACHA has made to the NACHA Operating Rules since the publication of NACHA's 2009 ACH Rules book. These changes include amendments set forth in NACHA's 2010, 2011, 2012, and 2013 Operating Rules books.

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is adopting as final, with changes, the Zimbabwe Sanctions Regulations that previously were published in an interim final rule. These changes primarily amend the Zimbabwe Sanctions Regulations to implement Executive Order 13391 of November 22, 2005, “Blocking Property of Additional Persons Undermining Democratic Processes or Institutions in Zimbabwe,” and Executive Order 13469 of July 25, 2008, “Blocking Property of Additional Persons Undermining Democratic Processes or Institutions in Zimbabwe.”

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing regulations to implement Executive Order 13667 of May 12, 2014 (“Blocking Property of Certain Persons Contributing to the Conflict in the Central African Republic”). OFAC intends to supplement this part 553 with a more comprehensive set of regulations, which may include additional interpretive and definitional guidance and additional general licenses and statements of licensing policy.

Title 31 published on 2014-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to Title 31after this date.

In accordance with the requirements of the Privacy Act of 1974, as amended, 5 U.S.C. 552a, the Department of the Treasury gives notice of a proposed amendment to update its Privacy Act regulations, and to add an exemption from certain provisions of the Privacy Act for a system of records related to the Office of Intelligence and Analysis.

Effective date for the Interim Final Rule: October 14, 2014. Comments on the Interim Final Rule are due: September 15, 2014.

31 CFR Part 34

Summary

The Department of the Treasury is issuing regulations concerning the investment and use of amounts deposited in the Gulf Coast Restoration Trust Fund, which was established in the Treasury of the United States by the Resources and Ecosystem Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012 (RESTORE Act).

Written comments on the Notice of Proposed Rulemaking (NPRM) must be received on or before October 3, 2014.

31 CFR Parts 1010, 1020, 1023, 1024, and 1026

Summary

The Financial Crimes Enforcement Network (FinCEN), after consulting with staff from various federal supervisory authorities, is proposing rules under the Bank Secrecy Act to clarify and strengthen customer due diligence requirements for: Banks; brokers or dealers in securities; mutual funds; and futures commission merchants and introducing brokers in commodities. The proposed rules would contain explicit customer due diligence requirements and would include a new regulatory requirement to identify beneficial owners of legal entity customers, subject to certain exemptions.

Written comments on the Notice of Proposed Rulemaking (NPRM) must be received on or before October 3, 2014.

31 CFR Parts 1010, 1020, 1023, 1024, and 1026

Summary

The Financial Crimes Enforcement Network (FinCEN), after consulting with staff from various federal supervisory authorities, is proposing rules under the Bank Secrecy Act to clarify and strengthen customer due diligence requirements for: Banks; brokers or dealers in securities; mutual funds; and futures commission merchants and introducing brokers in commodities. The proposed rules would contain explicit customer due diligence requirements and would include a new regulatory requirement to identify beneficial owners of legal entity customers, subject to certain exemptions.

Written comments on the Notice of Proposed Rulemaking (NPRM) must be received on or before October 3, 2014.

31 CFR Parts 1010, 1020, 1023, 1024, and 1026

Summary

The Financial Crimes Enforcement Network (FinCEN), after consulting with staff from various federal supervisory authorities, is proposing rules under the Bank Secrecy Act to clarify and strengthen customer due diligence requirements for: Banks; brokers or dealers in securities; mutual funds; and futures commission merchants and introducing brokers in commodities. The proposed rules would contain explicit customer due diligence requirements and would include a new regulatory requirement to identify beneficial owners of legal entity customers, subject to certain exemptions.

Written comments on the Notice of Proposed Rulemaking (NPRM) must be received on or before October 3, 2014.

31 CFR Parts 1010, 1020, 1023, 1024, and 1026

Summary

The Financial Crimes Enforcement Network (FinCEN), after consulting with staff from various federal supervisory authorities, is proposing rules under the Bank Secrecy Act to clarify and strengthen customer due diligence requirements for: Banks; brokers or dealers in securities; mutual funds; and futures commission merchants and introducing brokers in commodities. The proposed rules would contain explicit customer due diligence requirements and would include a new regulatory requirement to identify beneficial owners of legal entity customers, subject to certain exemptions.

Written comments on the Notice of Proposed Rulemaking (NPRM) must be received on or before October 3, 2014.

31 CFR Parts 1010, 1020, 1023, 1024, and 1026

Summary

The Financial Crimes Enforcement Network (FinCEN), after consulting with staff from various federal supervisory authorities, is proposing rules under the Bank Secrecy Act to clarify and strengthen customer due diligence requirements for: Banks; brokers or dealers in securities; mutual funds; and futures commission merchants and introducing brokers in commodities. The proposed rules would contain explicit customer due diligence requirements and would include a new regulatory requirement to identify beneficial owners of legal entity customers, subject to certain exemptions.

The Department of the Treasury proposes regulations for the Resources and Ecosystem Sustainability, Tourist Opportunities, and Revived Economies of the Gulf Coast States Act of 2012 (RESTORE Act). The proposed regulations concern amounts available to eligible Louisiana parishes from the Gulf Coast Restoration Trust Fund, a fund established in the Treasury of the United States by the RESTORE Act. Treasury published other proposed regulations for the RESTORE Act on September 6, 2013.

2014-07-24; vol. 79 # 142 - Thursday, July 24, 2014

79 FR 42974 - Federal Government Participation in the Automated Clearing House

Effective August 25, 2014. The incorporation by reference of certain publications listed in the rule is approved by the Director of the Federal Register as of August 25, 2014.

31 CFR Part 210

Summary

The Department of the Treasury, Bureau of the Fiscal Service (Service) is issuing this final rule to amend our regulation governing the use of the Automated Clearing House (ACH) network by Federal agencies. Our regulation adopts, with some exceptions, the NACHA Operating Rules developed by NACHA—The Electronic Payments Association (NACHA) as the rules governing the use of the ACH Network by Federal agencies. We are issuing this rule to address changes that NACHA has made to the NACHA Operating Rules since the publication of NACHA's 2009 ACH Rules book. These changes include amendments set forth in NACHA's 2010, 2011, 2012, and 2013 Operating Rules books.

2014-07-22; vol. 79 # 140 - Tuesday, July 22, 2014

79 FR 42486 - Imposition of Special Measure Against FBME Bank Ltd., Formerly Known as Federal Bank of the Middle East, Ltd., as a Financial Institution of Primary Money Laundering Concern

Written comments on this NPRM must be submitted on or before September 22, 2014.

31 CFR Part 1010

Summary

In a finding, notice of which is published elsewhere in this issue of the Federal Register (“Notice of Finding”), the Director of FinCEN found that FBME Bank Ltd. (“FBME”), formerly known as Federal Bank of the Middle East, Ltd., is a financial institution operating outside of the United States that is of primary money laundering concern. FinCEN is issuing this notice of proposed rulemaking (“NPRM”) to propose the imposition of a special measure against FBME.

The United States Mint proposes to amend Treasury regulations relating to the exchange of uncurrent, bent, partial, fused, and mixed coins. The proposed amendments aim to update redemption rates and procedures, as well as to resolve an apparent contradiction in the current regulation.

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is adopting as final, with changes, the Zimbabwe Sanctions Regulations that previously were published in an interim final rule. These changes primarily amend the Zimbabwe Sanctions Regulations to implement Executive Order 13391 of November 22, 2005, “Blocking Property of Additional Persons Undermining Democratic Processes or Institutions in Zimbabwe,” and Executive Order 13469 of July 25, 2008, “Blocking Property of Additional Persons Undermining Democratic Processes or Institutions in Zimbabwe.”

The Department of the Treasury's Office of Foreign Assets Control (OFAC) is issuing regulations to implement Executive Order 13667 of May 12, 2014 (“Blocking Property of Certain Persons Contributing to the Conflict in the Central African Republic”). OFAC intends to supplement this part 553 with a more comprehensive set of regulations, which may include additional interpretive and definitional guidance and additional general licenses and statements of licensing policy.